Avingtrans Share News (AVG)

(Sharecast News) - Avingtrans said on Thursday that its subsidiary Scientific Magnetics had shipped its 20th superconducting magnet for quantum computing applications, marking a milestone as the group looked to capitalise on growing demand in the emerging sector.

The AIM-traded engineering company said the Oxfordshire-based business, part of its Magnetica division, had also built a pipeline of further orders, with 18 additional systems currently in production alongside a strong forward order book.

It said Scientific Magnetics, with more than 30 years of experience in magnet technologies, specialises in systems designed to minimise qubit noise, a critical factor in quantum computing performance.

The company provides end-to-end capabilities from design and manufacture through to site qualification.

"Delivering our 20th superconducting magnet for quantum computing applications is a significant achievement for our team, who are working at the leading edge of the quantum computing revolution," said managing director Clint Gouveia.

He added that the company was "developing a promising position as a key supplier of the precision magnet systems needed to produce future quantum computers at scale."

The announcement came amid increasing policy support for the sector, including UK government plans to scale quantum computing deployment, which was expected to drive demand for specialised hardware such as precision magnet systems.

Stuart Gall, chief executive of Avingtrans' medical and industrial imaging division, said the delivery was "a significant landmark for SciMag," adding that the business was "positioned right at the heart of this new technology, supplying essential components that underpin the qubit architecture needed to scale the industry at large."

At 1129 GMT, shares in Avingtrans were up 1.19% at 556.55p.

Reporting by Josh White for Sharecast.com.

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